Is 682 a Good Credit Score?

By Ashley Kilroy

Your credit score is one of the most important financial metrics that lenders use to evaluate your creditworthiness, or how likely you are to repay your debts. In the U.S., FICO® is the most widely used credit scoring system. It ranges from 300 to 850, with higher scores indicating better creditworthiness.

So is a 682 credit score bad? No, a credit score of 682 is considered “good” credit, meaning you should be eligible for a broad range of financing and credit products. That said, having “good” credit isn’t quite as good as having “very good” or “exceptional” credit. As a result, lenders probably won’t offer you their most competitive products and terms.

How does a 682 credit score affect your ability to borrow? Let’s unpack what this number means and what financial choices you have.

What Does a 682 Credit Score Mean?

You can think of your credit score like an adult report card. Similar to grades in school, your credit score is based on your performance in several different areas, and can have a significant influence on your future opportunities. Rather than tests and assignments, however, your credit score is based on how well you manage and repay your debts, information that is available in your credit reports.

Here’s how FICO Scores break down:

•   Poor: 300-579

•   Fair: 580-669

•   Good: 670-739

•   Very Good: 740-799

•   Excellent: 800-850

A 682 score lands in the “good” credit tier, indicating that you are a responsible borrower with a decent credit history. However, it’s in the lower end of the good range, meaning there is still room for improvement. In addition, you’ll probably want to manage your credit carefully to prevent dropping into the more restrictive “fair” credit score range.

What Else Can You Get with a 682 Credit Score?

A 682 credit score can grant you access to various financial products, including credit cards, auto loans, mortgages, and personal loans, though not necessarily at the best rates and terms. Here’s what you can expect in different lending categories.

Can I Get a Credit Card with a 682 Credit Score?

Many credit card issuers approve applicants with credit scores in the “good” range. However, you may not be eligible for premium credit cards that offer the best rewards, lowest annual percentage rates (APRs), and highest credit limits. Instead, you can expect to qualify for mid-tier credit cards that offer moderate benefits, such as no annual fee, cash-back rewards, and (possibly) an introductory 0% APR offer on balance transfers or purchases.

You’ll want to keep in mind, however, that your “good” credit does not guarantee approval for a credit card. In addition to your credit score, card issuers will typically also consider your gross income and monthly financial obligations to determine if you qualify for a card, and if so, how much credit they can give you.

To qualify for an even better credit card, you’ll want to work on building your credit profile by making on-time payments on current debts, paying down existing balances, and avoiding multiple credit applications (which trigger hard credit inquiries) in a short period of time.

Can I Get an Auto Loan with a 682 Credit Score?

With a 682 score, you have a good chance of getting approved for a car loan. But you may be stuck paying above-average rates.

While there’s no set minimum score to get approved for a car loan, your credit score plays a big role in determining your interest rate on your auto loan. According to fourth- quarter 2024 data from Experian, borrowers with high credit scores (781 and above) usually get the best rates, with an average of 4.77% APR for new cars. Those with scores in the 661-780 range, however, pay an average of 6.35% APR for new car loans.

To get a good deal on a car loan for a 682 score, consider shopping around even before you hit the dealership. Prequalifying can give you an idea of the type of car loan you may be able to get without impacting your credit score. Having multiple quotes in your back pocket could help you negotiate a better rate from whatever lender you choose.

If you’re not happy with the rates you’re seeing, you may be able to get a cheaper deal by adding a cosigner to your loan or increasing your down payment — either move lessens risk to the lender, which may allow them to offer you a lower rate.

Can I Get a Mortgage with a 682 Credit Score?

A 682 score meets the minimum for most types of mortgages. Lenders typically require a minimum credit score of 620 for a conventional home loan, which is the most popular type of mortgage and isn’t insured by any government agency.

Here’s how different mortgage options may apply to you:

•   Conventional loan: You should qualify, but may not get the lowest interest rate. Down payments requirements for conventional mortgages vary but can be as low as 3%. Keep in mind that you’ll need to pay for private mortgage insurance if you put down less than 20%.

•   FHA loan: This is a type of mortgage insured by the Federal Housing Administration (FHA). With a score above 580, you may be eligible for an FHA loan with a down payment as low as 3.5%. FHA loans come with lower ceilings than conventional loans, though, and require you to pay mortgage insurance premiums..

•   VA loan: These home loans are guaranteed by the U.S. Department of Veterans Affairs (VA). If you’re a veteran, service member, or surviving spouse, a 682 credit score should qualify you for a VA loan with competitive terms. There’s no minimum down payment, mortgage insurance, or credit score requirement, but you’ll need to pay a funding fee ranging from 1.25% to 3.3% at closing.

•   USDA loan: This type of mortgage is guaranteed by the U.S. Department of Agriculture (USDA). If you have a low- to moderate- income, a USDA loan can help you buy a home in a rural, USDA-eligible area. These loans don’t have a credit score or down payment requirement, but do charge guarantee fees.

To improve your mortgage rate, consider building your credit profile before applying or making a larger down payment.

Can I Get a Personal Loan with a 682 Credit Score?

A personal loan is a type of installment loan that you get from a bank, credit union, or online lender and use for almost any purpose, such as covering an emergency expense, making a large purchase, or consolidating debt. Loan amounts can range anywhere from $250 to $100,000, and repayment terms are usually from two to seven years.

You can probably qualify for a personal loan with a 682 credit score, though it may not be at the most favorable rate. Even so, a personal loan could still be cheaper than other forms of credit, such as high interest credit cards. Currently, the average personal loan interest rate is around 12%, compared to nearly 29% for credit cards.

If you already have high-interest debt, you might consider using a personal loan to pay off your existing balances. An online personal loan calculator can help you figure out if this could be a cost-effective move.

The Takeaway

A 682 credit score is considered “good” under the FICO scoring model and provides access to various financial products, including credit cards, auto loans, mortgages, and personal loans. While you may not qualify for the best interest rates or premium financial products, you are still in a strong position to borrow responsibly.

You may be able to access better financial opportunities in the future by focusing on responsible credit management, such as making on-time payments, paying down balances, and limiting new credit applications. This could help you build your credit profile and unlock better interest rates and financial products in the future.

Think twice before turning to high-interest credit cards. Consider a SoFi personal loan instead. SoFi offers competitive fixed rates and same-day funding. See your rate in minutes.

SoFi’s Personal Loan was named NerdWallet’s 2024 winner for Best Personal Loan overall.

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